Azgard earnings surge 25pc; top line improves
KARACHI: Azgard Nine Limited has declared its financial result for the first nine months of 2008 ended on September 30, 2008 (9MCY08). The company showed robust performance and its profit after tax jumped by 25 per cent to Rs404.078 million (EPS: 1.14) as against Rs322.602 million (EPS: 0.89) in 9MCY07.
Sales of the company surged by 59 per cent to Rs4.849 billion compared to Rs7.683 billion in 9MCY07. Moreover, significant improvement was witnessed in gross profit margins which stood at 33 per cent to Rs2.558 billion while these were 27 per cent at Rs1.347 billion in 9MCY07.
Other income of the company went negative to Rs12.514 million while other income of the company was Rs61.486 in 9MCY07. Likewise, similar trends were witnessed in the finance cost which soared by 11 times to Rs1.615 billion compared to Rs777 million in 9MCY07.